Technology: Southeast News

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Posted November 02 , 2021

 

RALEIGH – Raleigh-headquartered technology unicorn insightsoftware is in the process of buying its 20th company since the company was created three years ago by merging two companies with the financial backing of TA Associates.

The company, which closed an $800 million funding round earlier this year from one investor, will buy Magnitude, in a move that the spokesperson said will “expand its operational reporting capabilities.”

The deal will close in early November, according to the spokesperson.

The company says that the deal “reinforces insightsoftware’s vision to provide a comprehensive suite of software solutions to help organizations run a world-class financial operation.”

Magnitude is headquartered in Austin, Texas and has 1,300 customers.

 

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